tv Your World With Neil Cavuto FOX News August 26, 2013 1:00pm-2:01pm PDT
with an assess. as to what should be done in the region. remember, u.n. inspectors are in syria now. they came under sniper fire today. now to neil and "your world." >> neil: all eyes on the nutty reaction creating in the oil markets because forget whether these images of syrians he is reportedly killing with chemical weapons don't move the world to act, maybe this image of rising oil prices will. >> welcome everybody. i'm neil cavuto. now bashar assad has sparked a potential energy crisis. no one is sure which move president obama and other western powers will act on. but growing indications they will act because some vital shipping sports, for at least much of europe, is at stake.
which means stable oil prices here could be at stake. phil is tracking this closely. we should first posit we're talking about crude which is shipped through the suez candle -- canal. >> the fallout could be swift. we have seen prices of crude and oil price goes up in anticipation of problems in the middle east, since the fourth of july, since the situation in libya and egypt and then seara. we have put in a huge premium on the prices, and because of the area, in every major oil producer in the world has a major stake in this, either one side or the other, and are not on the same side. it could be the biggest energy crisis we have seen in years if we get into a war in syria. >> neil: for the time being in europe's interest, even more than our own, for the time being to do something about this. they're feeling the spike now.
right? >> they are feeling the spike in europe. this is a great story. if this had happened five or ten years ago, before the u.s. energy revolution, the prices of oil probably would have been up 10 to $20 a barrel, but because the u.s. is producing the most oil they have in 20 years we have been cushioned somewhat from all these global turmoils we have seen in the middle east. but i'll tell you what. our luck could run out because if you think about who is involved here, we're talking about syria, not major oil producer, but look at the players on the side. they have russia backing them, major oil producer. iran, fighting a proxy war, and on the other side, the united states, saudi arabia, the rest of the civilized world right now, it could marriage problem if we have a major explosion in the middle east, and we're very,
very close right now, neil to that situation. >> neil: as you reminded me, oil is a commodity now. doesn't trade simply on supply and demand. which is often times hope and fear, and a greed issue. the beth seems to be it's going to be at least the possibility of a dislocation for a while and that's all these guys need to hear. >> that's all they need to hear. and there's a valid fundamental reason for raising prices. hold back on demand so we have enough to last us if there is a disruption, but i'll take at it step further. if we see what happened here in the middle east and the risk premium we put into the oil price, it might have been a lot worse a few years ago if it wasn't for u.s. oil production. the other thing is if you look at the risk premium of the price of oil, we did get some good news out of libya. libya had been part of that premium with the disruption of supply but they started to
produce. if it weren't for that oil would be higher today than it was. >> neil: thank you very much. we posit here, often times countries move not so much on human tragedies as the potential for economic ones. selfish interests come forward and that's why you could be hearing a loot more drum beets for doing something. is it me or sounding like deja vu all over again? u.n. weapons inspectors who ain't cutting it, the country they're inspecting hiding it, too late for search for it. clear when it comes to use of chemical weapon on its own people, the regime has done it. so why delay a response? i'm not talking assad today. i am talking about saddam hussein a decade ago. now and then concerns bat dictator turned devil, terrorizing a region? what's the difference in the mainstream media pushing the
president to act because it's the right thing to do. same mainstream media at the behind of trouble in iraq argued it was the wrong thing to do. back then we had not given the u.n. enough time. now the u.n. is not worth the time? brent, what has changed sneer -- changed sneer. >> it isn't the people reporting the news. it's the world view. it's the president that has changed. it's a remarkable turn of events. it's deja vu all over again except the media are reporting it in the exact opposite way. they saw how saddam hussein as something that didn't merit american intervention. in fact saddam hussein had innovated kuwait and was saber rattling. in the case of assad, as horrific as this is, assad has not invaded anybody. he has not threatened american interests directly and no one is
asking the question, what are we going to accomplish by this? what is the end game of whatever it is? there are some serious questions that need to be asked. no one is asking them. how about this one, neil? with the runup to this, with all the talk that took place on iraq about the need for congressional approval, before there was a military strike, have you heard nip in -- anybody in the media question how president barack obama can send us to wore without congressional approval? >> the president and the secretary of state may argue it's not an act or war but i find the common denominator being the u.n. thing. it was a matter of the u.n. being a waste of time now, too little too late and a decade ago, the u.n. needed more time, even though they had spent an inordinate amount of time trying to get to the bottom of the
weapons saddam hussein used against his people. so the only difference is the guy in the oval office. >> also, the idea that this administration, this foreign ín! here is a quote from hillary clinton. she said there's a different leader in syria now. many of the members of congress of both pears were go to syria and have said they believe he is a reformer. she herself said this. do you folks in this administration have any idea what you are doing? >> neil: you know, we always forget that president bush did have the u.n. coordinating the attacks, and whether you agreed then with the attacks and the followup, they were used under the same provisos for now.
what was awful for president bush seems to be fine for president obama. i'm not saying the u.s. should take sides. i just say, look at what were the terms for action based on this? and it does leave you wondering. >> they went whether they went too far or not -- look, the -- >> neil: that's not the answer. what would be catalyst? >> they questioned bush on everything. have the exact same questions for obama. how is that a controversial statement to make? >> neil: well put. want to remind you, what you're hearing in the headlines now versus then, and basically the message is, u.n. then, more time. u.n. now, who the hell has the time? we report it. you decide.
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>> creepy. >> supercreepy and predictable. it's kind of -- the ability to naughty bits. these people -- you started it. but, of course, if you get people uncheckable power, they're going to look up old girlfriends, new girlfriends. >> neil: and spouses. the nsa did give us a statement. everytime there's a new revelation, there's a statement. over the past decades, local violations of nsa authority has been found but under where the -- we take seriously the allegations and cooperate full >> we know this because they told us. there was no independent are
bitter who said that. the people who are snooped on? do they know it? no. when we nsa conducts surveillance we don't have the right to know. >> neil: very good point. and -- >> they also have the fact that senator dianne feinstein who is supposed to be conducting oversight, and the president of the united states saying this month the nsa is not conducting improper individual search on americans. it's not true. so they're dribbling out a little bit of these things so slowly walk back so we don't look and what we have seen in the last ten years is boast administrations consistently lie about what they do over and over again and it's only because of these disclosures we have had this year. >> neil: getting past the point of overreach here. almost like -- the next crisis, the next statement defending the limited nature of the next
crisis and it gets old. >> how many people work for the nsa? what's their budget? what legal justification do they use to conduct searches on you? we don't know any of this. if we don't know -- >> neil: we are told, don't worry about it. take a chill pill. >> even if they had the best motivation in mind, which is entirely possible. they're public sir vans, our founders in other words you need competing centers of power to check one another. we cannot trust. power corrupts -- absolute pure corrupts absolutely. >> neil: anybody with this kind of clearance should have james bond -- >> maybe a little best violent. >> neil: you can't tell me some people with a badge or pass will go further than they should, and i see nothing to indicate that they're limiting that, because if they don't, then we're going to see more of this. >> the paradox of the surveillance state to keep everything secret and have this
whole infrastructure here you need ever more millions of americans who have security clearances and special badges while those people, how do you check them out? now you have the government chasing its tale, to find out who is leaking what. it's a mess. you need to trust the competing centers of power and roll this stuff back. >> neil: i don't know. thank you very, very much. how do you explain to higher-ups. she was a spy. you question, we sue. when states get angry, the just department gets even. the most free research reports, customizable charts, powerful screening tools, and guaranteed 1-second trades. and at the center of it all is a surprisingly low price -- just $7.95. in fact, fidelity gives you
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of governors accused of being criminals. louisiana is the latest fed target. consider rick perry, now defending the state's voter i.d. law after texas was sued. or jan brewer fighting the feds after her crackdown on illegals. tim, in each and every case and in other cases just like them, states defy, and then the government pounces. >> so, president obama does not seem to like federalism very much. federalism is the idea that many issues are best handled by states and the federal government should not tell states how to run their business, and you see very good reason in last the voucher program is mostly used by poor black children in failing schools. it helps them get out of the schools and into better schools,
and yet the doj comes in and decides, well, this is somehow resegregating the schools because some people are moving out of some school districts into others. they don't have the firsthand knowledge, the knowledge on the ground and it's absurd to say a program helping poor black kid get into better schools in new orleans is discriminatory, but from washington, lawyers, it looks that way. >> neil: the same for arizona and the crackdown on illegals, or texas, requesting those who vote have proof they are who they say they are. these are not heinous issues. so, why is the white house jumping on to this? >> i don't know why they're jumping on to it. look at the facts on the ground. you have in texas, it's a voter i.d. law. supposedly going to turn away minorities from the states. if that what's idea of the republican legislature it was a horrible failure. black voters voted more and
that's not true before the voter i.d. law. it's not having an effect. that's a fact that they state government can proceed when the federal government doesn't, and in arizona, the president said the border is secure, and the governor, jan brewer, laughed, says come down to tucson. we don't know how many illegals are coming across. so the president, i think part of it is the fatal conceit. this idea they can see everything from washington and they don't need the individualized knowledge of the ground that state governments provide. >> neil: or you can feed it to the racist arguers that republicans are about to repress minority voters. >> a republican governor. >> neil: one thing i think about is where they draw the line here. it is bad to have a voter i.d. or something saying you have the right to vote, pretty sacred right in the kiss -- in this
country, and the same administration pushing the health i.d. laws so which is it? it's confusing. >> the voter i.d. issue was a great issue for democrats to try to rally the base and say, oh, this is an effort to try to disenfranchise black voters they ginned up the liberal base. there was no proof that these voter i.d. laws turn away voters, and is the doj being used as a political tool toal the base and convince people the republicans are racist, and the fact that eric holder's doj is being politicized is not something hard to imagine. stop the fighting and start shoveling the -- start solving the problems. le this maverick has a lot to say about the political mess in washington and is angry at both
parties and is actually talking up a third party. now is the time. hear a billionaire's thoughts. >> that's crazy. i mean, i don't think anybody fully identifies with either party and both parties have taken the position they have to be pure. >> ideological extreme. >> there's no room for impurities at all. and i think that means most people are not fully represented and i'd like to love to see a third party that says that parties and people don't have to be perfect. let's go out there and try to solve problems. >> neil: much more tonight on nbn. one of the world's most richest men. when perks go ca put kaput. on the rewards opinions you might want to cash out right now.
>> neil: use 'em or loose 'em. all these row ward points you have been stockpiling. a company announcing it's shutting down and then canceling reward balances, and other companies scaling back rewards as well. using plastic to rack up points may be dangerous. what do you mean by that? >> there's so many ways to save money and trying to get maximum
usage of 2% back on things? you have to spend a parttime job tracking the points. it's better to have a good money management system to get yourself out of debt and save in advance for purchases and maybe have one credit card to do lot of flying around, but try to simplify your life. it's not worth the hassle, and especially when they go away without notice. that's screwing consumers. >> neil: people look at these cards, if they had a choice between one that offers benefits and one that doesn't, if they pay in full, they like the one that does because they get something for all the money they're spending. what do you say to them? >> first, only reason we would ever use a credit card would be if we can pay it in full and that's what we encourage people to do on our web site, pay cash, pay things off. if you use a credit card, do it auto pay. make your life simple.
but accumulating a little points -- we use a credit card for business for travel. when we travel to -- we -- get airline miles. cop fusing -- confusing your life is hard. and when kids are starting out and need to establish credit, we say get a secured line of credit, security credit card $500 in the bank. establish credit. but don't go crazy with credit cards. it's not worth the hassle and the risk when credit card companies can jack your rate from 10% to 30%. >> neil: they make them so intriguing. i'm going to charge anyway but i get points back and i can buy ipod or whatever. some people say, well, i guess two wishes in one. >> you do, but then you got the
downside, and i agree that it's appealing, and they're really just buying market shaker -- market share, but let's be. some is your time used better managing your money or trying to chase down two percent? i think two percent is not worth the hassle. >> neil: do customers then lose their reward balances have any legal recourse here? >> no, no luck at all. here's the main reason why. when you sign up for a credit card you -- there's fine print you you cannot read without the hubble tellscope. and the credit cards can jack your interest, pull your perks, and you're agreeing to that when you sign up. technically that's a contract which is normally illegal but
since you have a million different credit cards and different programs to shoos from. big credit card or -- get away with it. >> an investigation is wise here. these individuals chose this company because they wanted the rewards, the perks. there was no interest. customers would open up a checking account and everytime they would make a debit card purchase they would get one to five percent back in rewards. now perk street says the rewards program is ending today. all of your balances are gone. you no longer have points. >> neil: would you advocate they phase it out? >> i think we need to look into the disclosures, but i think you have to give people notice and look at what the fine print says and what is there for the customers. >> neil: i always wondered about what is better know customers ex-you're right in the fine print they can do anything, and
in the carnival cruise line, there's a stipulation for feces in the hallways. not really, but anything guess. you're party to any surprises and you just have to deal. so, is the best advice, look closely at these? the ann alternative is you don't get the ticket to get on the ship, you don't get the service, you don't get the card, because all of a sudden stuff bugs you. >> life is full of risks. so if we did read the fine print, we're going to sign up for the card or buy the cruise, and as a practical matter it makes no sense to hire us. so if somebody has a perk card now and they're going to lose 100 points, 100 bucks, they're going to call me up and say i want to litigate. go after my $100, and i say, send me a check for $5,000. >> neil: you charge that much? touché.
>> no. it's -- going to cost you more than it's worth. these companies know that nobody is going after them because it doesn't make financial sense. >> there's something weird before the situation. after the company made the announcement they were ending the program, they then modified their announcement and said, there's been change. all the customers, your money was put into one of two companies, so everyone who put their money into provident bank, you are going to get your ben publish bet fits and the full value of rewards. but all the people who put their money into bank corp., too bad, to late. >> neil: even happier medium is to say, grandfather it. new cardholders, a different program, but to pull the rug out? >> they're going out of business so essentially what do they care? they're not going to be retaining these customers so
doesn't matter. it's not real money. i can't walk into the grocery store with a 50-cent coupon and saying i'm not using it but misme my 50-cents. the real money is safe, the publishings are the problem. >> the publishings are a -- perks are a gift cart. they're saving up money and accumulating rewards to purchase something. >> neil: a lot of the big boys say we'll see what happens. they rejigger another program or they have another thing where you won't be like a dollar on $100 or whatever it might be 50-cents. but they do something to sub. if you pull the rug out and someone else takes over, the new company will probably do something. but you're saying, don't -- >> they haven't done anything. there's been no recourse to these individuals. the only recourse is for the -- we're told you have your money back, you have you've benefits back. the other half, there's no recourse and there should be an investigation into what
disclosure did this company make and what does that fine print say? >> neil: is it the means by which you decide which credit card to get so you go deeper in debt, maybe the hison is, think what your priorities are. >> that is, and user perks -- use your perks before you loose them. and -- >> neil: you can have an affinity card that might be linked to visa or mastercard but could be joe's meat market. >> it's another example of shaking the confidence of consumers and that's a problem. >> neil: you never get anything for nothing. >> no, you don't. >> neil: ladies, thank you very much. john kennedy says what? tax cuts? a lot of you think i edited that jfk interview in which he calls for tax cuts. you're right, did edit it. you should hear what i left out. and you know what next? you will.
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>> neil: jf what did he say? more than a few of you absolutely stunned to hear john f. kennedy talking about tax cuts half a century ago. some of you not believing it. elena e-mails: i think you doctored this tape to make it sound like he was for cutting taxes. i know for a fact he wasn't. do tell. but you have company. another one: >> time for me to fess up. you got me. we did leave something out. for time purposes and the three minutes plus we showed you in which jfk was pushing reluctant democrats to go along with the tax cut he needed, we omitted this. >> otherwise, if we don't get the tax cut i would think that our prospects are much less certain and the federal reserve board indicated that.
1964, it's going to be an uncertain time if we don't get the tax cut to delay it to 1964 would be very unwise. our whole experience in the late are 50s shows how necessary and desirable it. my guess the tax cut's stimulus will get our budget in balance quicker than we will if we don't have it. >> neil: that wasn't all. we also left out several press conferences, major speeches on the very same issue, including this kennedy address in which he uses ross perot type charts, along before ross perot was doing it. >> a creative tax cut, creating more jobs and income and eventually more revenue.
and the right time for that time to is no, in the an sense of an economic crisis today, and if the job is to be done in a response way, january 1963. church -- such a bill will be presented next year and will include a top to bottom cut in both corporate and personal income taxes. it will include long-needed tax reform that logic and equity demands, and it will base that cut in taxes to take effect as of the start of next year. january 1963. the billions of dollars this bill will place in the hands of the consumers, and our businessmen, will have both immediate and permanent benefits to our economy. every dollar released from taxation, that is spent or invested, will help create a new job and a new salary, and these
new jobs and salaries can create other jobs and other salaries. >> one step above all is essential. the enactment this year of a substantial reduction and revision in federal income taxes. -- [applause] >> or it is increasingly clear to those in government, business, and labor, who are responsible for our economy's success, that our obsolete tax system exerts too have a drag on private purchasing power, profit and employment. design to check ennation, now checks growth instead and discourages extra effort and risk, distorts the use of resources and invites returned recession, depresses our federal revenue and causes chronic budget deficits. now when the inflationary
pressures of the war and the post war years no longer threaten, and the dollar commands new respect, now when no military crisis strains our resources, now is the time to act. we cannot afford to be timid or slow. for this is the most urgent task confronting congress in 1963. >> neil: i'm sure there are those who say i must have edited that so you can go to our web site ask look for the jfk section, see the audio and transcript from the interview. and just a rough cursory examination of this subject and john f. kennedy i found at least four speeches, seven network interviews and five press conferences in which the tax cut was front and center. that was from 50 years ago, democratic president arguing for
tax cuts. many of you who quite properly counter tacks were higher then. you are quite right but you had a democratic president arguing the only way to goose the economy would be to lower them north add more spending to give more money back to taxpayers, individual taxpayers, corporate taxpayers, all taxpayers. the president of the united states was showing no discretion as to who got what, just that everyone got a break. why billionaire investor wilber ross thinks the president was on to something and he remembers it vividly then. the billionaire with me tonight on why jfk was right. camelot was cash. katy perry is hot and now we know the profit the -- the president of the united states is hot on katy perry. over something she tweeted
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young people to sign up for insurance. this old familiar song ain't cutting it for you. >> i'm a big katy perry fan. she is a very music, i think sh a very talented singer. when it comes to the issue of health insurance, health care, i think most of her twitter followers are going to recognize she's not an expert in this particular area. probably her intentions are good, trying to be politically engaged. but ultimately, people are going to decide on their own terms what's best for them in terms of obama care. >> it is interesting, if you are president obama and you want to recruit young people, who better to help with the recruiting? he's going to need a lot more of them, and they're going to have to do more than tweet. >> it would be better if these celebrities would focus their influence or focus their voice on encouraging young people to
investigate how the law will affect them and what their various options may be. some young adults are going to remain on their parents insurance policy, they may not see a lot of increased costs or costs at all if mom and dad are picking up the tab. there are other young adults who get their insurance through their employer, maybe they don't. they're in different circumstances, facing a different set of changes. >> do you think it's even one of the stars were to sort of spell out the add van damages, you know, there are a lot of people who are intrigued by the idea, i can be covered for pre-existing conditions, there are a lot of things, you look at the headlines, they sound good, and a lot of these stars are pretty good at sounding good, they would have to leave aside the fact that, well, it's going to cost you dearly over time, maybe more than you're paying now if you have coverage now. but that is one thing the administration has not been able to pitch adequately. that this is worth it for young
people to get health care. >> health insurance premiums would go down, everyone would get a better bargain when it came to health insurance. the talking points from the white house had changed, now they admit that some young people will be paying more for health insurance, they say, it's okay, we're prescribing what will be in their policy, and it will be comprehensive coverage. that's not the same deal, you can keep it if you like it, or your premiums will go down. gallop released a poll last week showing the interest levels when it comes to obama care, and young people are most likely to be optimistic about the law, but also most likely to be uninformed about what the consequences will be. >> or they can be very informed and just be saying, look, i love my musicians, their music, i love my stars, but i'm not going to be taking political advice from them. it might be that simple. >> it may be that simple. ultimately it comes down to
individual responsibility. every person has to investigate what this law is doing to their own decisions. >> the trainer is rob bartlett, maybe take advice from him, i don't know. in the meantime, singers come and go, but superstars like nikki they change the world. the rock star who changed the world before katy perry was even born. >> muriel seibert.
like one. she once told me it was the times that made her react. but she was never a reaction airy. never wanted to push a call, just push, and push she did. to get women a seat at the testosterone trader's table known as wall street. where the fairer sex was nearly shut out for two centuries, until mickey seibert bought a seat at the table. she landed a seat on the new york stock exchange and later had one of its member firms. just because mickey was in, didn't mean that mickey was welcome. one famous story is how she assisted a lady's room be added to the trading floor next to the men's floor. she arranged herself a portable toilet, she got a room. there was the time when she was rebuffed at a men's only social club and told she couldn't take the elevator with the boys. she stormed into the meeting and they wowed her enough that they
all took the stairs with mickie when they were done. it wasn't so much as deliberate as men in those days were just being done. as she would later tell me, you have to get people to use their head. it wasn't about your sex, it was about your attitude. >> it's depending on your ability and energy level. i started at 6:00 this morning, and i'll go right through dinner, and then i have a trainer at 6:00 tomorrow morning. >> really? >> but then i have a masseuse that comes in at 7:00. >> yeah, but you're loaded. life could be nice, whether you're young or old. >> i wanted to use the internet, and we made it easy to use. >> do you find it at all ironic, you've been around the block a few times. ironically, at a business they supposedly created and dominate, here it takes the first woman on wall street so show them how it's done. >> i had to be tutored to learn how to do it. >> i find that fascinating, you
know? >> well, i realize the technology was either going to be our friend or enemy. >> i realized that three, four years ago, and i decided to make it our friend. he called me back, it was john mcgillicutti. he said, you have the authority to give me a temporary branch. go out and buy a card table and four chairs. when the people were stepping up and taking their money out -- >> isn't that wild? >> we had two people from that manufacturer's hanover -- >> you calmed people down, mickie. >> why not, i've been first many times, but this is a big one. >> it seems silly now, there was a time when mickie was first hunting for a job on wall street, she had the resume distributed under m.f. seibert.
i got the interview, but when they saw me show up in their office, boy. she won. mickie, seibert, dead at age 84. hello, everyone, bob, i'm greg, along with kimberly, bob, eric and katie. it's 5:00 in new york city, but who's counting. in the a.p.'s article called ten things you need to know today, they got most of the topics right. syria, ft. hood, and also, miley cyrus's performance at the vma's, the mess made you wince, not just for her family, but the world. her convulsive tongue wagging, her trite look how naughty i can be antics.